Are you a Revolver or a Transactor?

Credit bureaus are starting to take a closer look at how consumers use their credit cards, and this could mean problems for consumers who don’t pay off their cards in full each month.

All three major credit bureaus have started adding “revolver” or “transactor” to a consumer’s credit report. “Revolver” is for someone who carries a balance each month, always racking up interest charges. “Transactor” is someone who purchases, but pays off the balance in full each month.

Clearly, the implication is that transactors are less likely to default on debt than revolvers.

Read more here: https://www.post-gazette.com/news/nation/2013/11/01/Are-you-a-transactor-or-revolver/stories/201311010080

If you are a revolver or someone who carries a balance on your credit cards each month, contact a qualified debt settlement attorney who can help you eliminate interest charges, reduce your debt, and save you money in the long run. Then, you can be a transactor.

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Kevin Fallon McCarthy

Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.